Q3 2017 EPS Estimates for Watsco Inc Decreased by Analyst (WSO)
Watsco Inc (NYSE:WSO) – Equities researchers at William Blair decreased their Q3 2017 EPS estimates for shares of Watsco in a research report issued to clients and investors on Monday. William Blair analyst R. Merkel now anticipates that the construction company will earn $1.82 per share for the quarter, down from their prior estimate of $1.89.
WSO has been the subject of a number of other research reports. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research note on Tuesday, August 1st. Morgan Stanley increased their price objective on shares of Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research note on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and issued a $154.00 price objective on shares of Watsco in a research note on Thursday, September 7th. BidaskClub raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Wolfe Research began coverage on shares of Watsco in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Watsco currently has a consensus rating of “Hold” and an average price target of $161.17.
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Shares of Watsco (NYSE:WSO) opened at 163.32 on Tuesday. The company has a 50 day moving average price of $152.06 and a 200 day moving average price of $147.17. The company has a market capitalization of $5.34 billion, a PE ratio of 30.20 and a beta of 0.84. Watsco has a 1-year low of $128.60 and a 1-year high of $163.95.
Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 27.14% and a net margin of 7.12%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Waldron LP purchased a new stake in shares of Watsco during the first quarter valued at approximately $224,000. Karp Capital Management Corp purchased a new stake in shares of Watsco during the first quarter valued at approximately $814,000. Keybank National Association OH raised its stake in shares of Watsco by 7.5% during the first quarter. Keybank National Association OH now owns 2,215 shares of the construction company’s stock valued at $317,000 after purchasing an additional 154 shares during the period. SG Americas Securities LLC raised its stake in shares of Watsco by 489.5% during the first quarter. SG Americas Securities LLC now owns 8,300 shares of the construction company’s stock valued at $1,188,000 after purchasing an additional 6,892 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Watsco by 11.8% during the first quarter. Victory Capital Management Inc. now owns 9,105 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 964 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $5.00 annualized dividend and a dividend yield of 3.06%. Watsco’s payout ratio is currently 93.11%.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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